https://www.taxtmi.com/caselaws?id=155452 The expression "cost" in a sales tax notification was construed in light of a levy on taxable turnover, so it referred to the sale price of the radio and not the dealer's purchase price. Because the statute linked tax to the sale transaction and did not define cost price, the notification was read as operating on the price at which the goods were sold. The attempt to substitute purchase cost as the basis for the applicable rate was rejected, and the question was answered in favour of the department. en-us Wed, 08 Jul 1987 00:00:00 +0530 Wed, 04 Sep 2013 15:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155452 The expression "cost" in a sales tax notification was construed in light of a levy on taxable turnover, so it referred to the sale price of the radio and not the dealer's purchase price. Because the statute linked tax to the sale transaction and did not define cost price, the notification was read as operating on the price at which the goods were sold. The attempt to substitute purchase cost as the basis for the applicable rate was rejected, and the question was answered in favour of the department. Case-Laws VAT and Sales Tax Wed, 08 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155452